Disability Insurance

Disability Insurance

A serious accident or illness can affect your earning power and your future.  Some disabilities can keep you away from work for many years.

Disability insurance is the most important way you can preserve your quality of life and plans for the future — for both you and your loved ones.

Protecting Your Most Valuable Asset

What’s Your Most Valuable Asset? Is it your home or retirement accounts?

Probably not.  It is quite possible that your most valuable asset is your ability to provide an income.  It’s the one asset that makes your other assets possible.

Most people don’t think twice about protecting their home or car or possessions with insurance, but often times they neglect to protect themselves and their ability to earn an income. Disability insurance is sometimes labeled “the forgotten insurance” although it is such an important component in the overall plan of managing financial risk.

Avoid the Biggest Mistake When Shopping for Disability Insurance

One of the biggest mistakes people make when shopping for disability coverage is assuming that the products they are comparing are similar.  This is far from true, in fact, it is nearly impossible to compare apples-to-apples with disability insurance products.  There are so many variations in disability policies, that it is important to learn the ins and outs of disability insurance or, better yet, have a trusted advisor explain the key differences among policies.

It is fairly simple to compare monthly benefits, elimination periods, benefit periods, premiums and other basic components of a disability policy.  However, the critical differences between policies lies in definitions within the policy.  There is a huge difference between “any occupation” and “your occupation” when it comes to defining one’s inability to work. Also, it important to know if your policy is “noncancellable” or “guaranteed renewable.” There are other key differences in the language of a disability contract, for both policy provisions and riders (optional benefits).  There are also important riders available with some carriers that can significantly increase coverage for minimal premium.

Our goal is to provide you with quotes from the best carriers AFTER asking questions about you and/or your business and educating you on the major features of disability insurance policies.  We will provide you with everything necessary to make an informed decision, including links to some third party articles.

Please contact us for more information on disability insurance.